Dubai records 6,983 property sales transactions in April 2022


The Dubai property market recorded 6,983 sales transactions in April, an increase of 45.5% compared to April 2021.

April this year was therefore the best performing April in Dubai’s real estate sector over the past 10 years.

The figures were shared by Mo’asher, Dubai’s official selling price and rental performance index launched by the Dubai Land Department (DLD) in partnership with Property Finder.

The base year for Mo’asher is 2012, and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being the first quarter of 2012, according to the WAM news agency.

In April 2022, Mo’asher recorded a monthly sales index of 1.273 and a price index of 1,238,401 Dhs.

The monthly apartments index recorded 1.331 and an index price of Dhs 1,140,201, and the monthly villas/townhouses index recorded 1,318 and an index price of Dhs 2,124,828.

Moreover, Mo’asher recorded a monthly rental index of 0.957 and a price index of 51,672 Dhs. The monthly apartments index recorded 0.96 and an index price of Dhs 47,578 and the monthly villas/townhouses index recorded 0.872 and an index price of Dhs 132,917.

Data from Mo’asher showed that, overall, sales transactions continue to grow, outpacing 2021’s average monthly transactions.

The secondary market for sales transactions also continues to dominate the real estate market with a stable percentage of 60.32% in volume and 70.70% in value.

Transaction value and volume includes apartments which account for approximately 79% of total transactions, while villas/townhouses account for approximately 21%.

In the first four months of 20222, total sales transactions in terms of volume were recorded at 27,507 transactions compared to 16,341 transactions in the same period last year, a year-on-year growth of 68.33%. .

On the other hand, the total number of rental contracts in April 2022 reached 41,810 registered leases, of which 60.4% were new contracts while 39.6% were renewals.

Annual contracts accounted for 79.5% of total contracts, while 20.5% were non-annual. Leases registered for residential purposes accounted for approximately 74% of total contracts, while 25% were registered for commercial purposes.

Compared to April 2021, the total number of rental leases increased by 3.2%. The number of new contracts increased by 8% to represent 60.4% of the total number of contracts against 57.7% in April 20221.

In addition, the total number of leases increased from 72.9% in April 2021 to 79.5% in April 2022, while the share of commercial leases increased by 4.23% in April 2022 to represent 25% of the number total leases. compared to 20.77% in April 2021.

Comparing the first four months of 2022 to the same period in 2021, Mo’asher concludes that total leases in terms of volume saw an increase of 6.47%, which recorded 202,340 leases in 2022. compared to 190,043 in 2021.

The top areas, according to Ejari records, for the most rental transactions through April 2022 were Al Warsan First (8,311), Jabal Ali First (8,038 contracts), Naif (6,630), Business Bay (6,605 ), Al Karama (6,160), Nadd Hessa (6,058), Marsa Dubai (5,895), Al Nahda Second (5,725), Al Barsha South Fourth (5,680) and Al Suq Al Kabeer (5,491).

According to proprietary data from Property Finder, the top searched areas in April 2022 for sales were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay, Jumeirah Village Circle and Jumeirah Beach Residence. The most sought after areas for villa/townhouse sales in April were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills (Akoya by DAMAC) and The Springs. Their data also indicated that the most searched areas for apartment rentals in April were Dubai Marina, Downtown Dubai, Business Bay, Jumeirah Village Circle and Jumeirah Lake Towers. The most sought after areas for villas/townhouses were Dubai Hills Estate, Jumeirah, Al Barsha, Arabian Ranches and The Springs.

The Dubai property market saw a total of 84,772 transactions valued at Dhs 300 billion in 2021. The emirate saw a 65% growth in the number of property transactions and a 71% increase in value last year compared to compared to 2020, according to previously published data. by the DLD.

Read: Dubai records real estate transactions worth 300 billion Dhs in 2021

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